BNP Paribas Arbitrage SA Purchases 480,192 Shares of TC Energy Co. (NYSE:TRP)

BNP Paribas Arbitrage SA increased its position in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 787,200.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,253 shares of the pipeline company’s stock after buying an additional 480,192 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in TC Energy were worth $24,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TRP. abrdn plc bought a new stake in TC Energy in the 1st quarter worth approximately $5,720,000. Envestnet Asset Management Inc. lifted its position in TC Energy by 7.7% in the first quarter. Envestnet Asset Management Inc. now owns 645,237 shares of the pipeline company’s stock valued at $36,410,000 after purchasing an additional 46,138 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in TC Energy by 83.9% in the first quarter. Commonwealth Equity Services LLC now owns 80,902 shares of the pipeline company’s stock valued at $4,564,000 after purchasing an additional 36,912 shares during the last quarter. Prospera Financial Services Inc bought a new stake in TC Energy in the first quarter valued at approximately $33,000. Finally, Advisor Group Holdings Inc. lifted its position in TC Energy by 71.7% in the first quarter. Advisor Group Holdings Inc. now owns 66,231 shares of the pipeline company’s stock valued at $3,956,000 after purchasing an additional 27,666 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.

TC Energy Trading Up 0.7 %

TC Energy stock opened at $48.81 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.47 and a debt-to-equity ratio of 1.54. The business’s fifty day simple moving average is $44.20 and its two-hundred day simple moving average is $49.69. TC Energy Co. has a 12 month low of $39.11 and a 12 month high of $59.38. The company has a market capitalization of $49.39 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 3.83 and a beta of 0.80.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be issued a $0.661 dividend. This represents a $2.64 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, December 29th. TC Energy’s dividend payout ratio (DPR) is 103.95%.

Wall Street Analyst Weigh In

TRP has been the subject of several recent research reports. Barclays lowered their price objective on TC Energy from C$67.00 to C$65.00 in a research report on Wednesday, October 19th. Royal Bank of Canada reduced their target price on TC Energy from C$78.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. National Bank Financial upped their price target on TC Energy from C$56.00 to C$58.00 in a research note on Friday, November 11th. Finally, Scotiabank reduced their price target on TC Energy from C$76.00 to C$67.00 in a research note on Thursday, October 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.00.

About TC Energy

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TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Storage. The company builds and operates 93,300 km network of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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